But a world in which inflation, bond yields and short rates were trending higher would be the complete opposite of that which has prevailed during the long bull run.

但是对于一个通胀，债券利率和短期利率都有升高趋势的世界，它肯定是和长期牛市下的世界完全相反了。

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The move comes amid worries about inflation in China and complaints from factories in Guangdong and elsewhere about unfilled jobs as they rush to complete a surge in orders since February.

此举出台之际，人们正对中国的通胀感到担心，同时广东及其它地方的工厂抱怨称，在它们忙于应对自2月份以来激增的订单时，有不少岗位找 不到工人。

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The almost complete lack of early warning signals right now of inflation.

原因是目前几乎没有通胀的早期信号。

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This action by the Fed is the complete inverse to thirty years ago when Paul Volcker was fighting a different battle and swore to fight inflation, which was then the time to buy bonds.

FORBES: Shifting Gears